Day 5 of the Small Account Challenge +130% | Ep. #5
[smart_track_player url=”https://media.warriortrading.com/2017/03/Podcast-Day5.mp3″ download=”false” social=”true” social_twitter=”true” social_facebook=”true” social_gplus=”true” ]
Today was Day 5 of the small account challenge and I locked in my 14th consecutive winning trade in the small account. I’m up 130% year to date since opening this account with a $583.15 starting balance. Tomorrow morning my account will open right around $1,350 and I’ll have just about $8k in buying power. My $148 in profit today x6 gives me an extra $900 in buying power than I will utilize tomorrow.
This goes to show how these small gains really add up as I grow this tiny account. My plan is to build this account up to $25k as quickly as I can. I think the hardest part is $500-2k. Once I have $2k I’ll have $12k in buying power and it will become easier to take positions large enough to justify the commissions. With that said, even with $2k in equity I’ll still have to be very careful about managing risk because I don’t want to take a 50% haircut by over leveraging myself too early on. I think by the time I hit $5k I’ll be able to trade pretty much the same as how I traded last month with my regular size account.
Stay tuned for more updates & login to the chat room to watch me trading tomorrow!